PHL shares down on continued profit-taking

The Philippine Stock Exchange index (PSEi) eased Wednesday as investors continued to lock their gains from the recent run up in the absence of market-lifting leads. The PSEi shed 5.75 points or 0.13 percent to close at 4,212.98, according to the PSE's online market information as of 12:10 p.m. More than 2.647 billion shares worth P4.066 billion changed hands. Decliners outpaced advancers 70 to 69, while 41 issues remained unchanged. "There were no leads for the market to go up," said trader Jasper Jimenez of Banco de Oro Securities Inc. “Investors remained cautious after the New Year momentum buoyed the market last week," he said. The market is now looking at the US market for leads. "Our market will most likely pick up the moment investors see substantial gains on Wall Street," On Tuesday, the Dow Jones Industrial Average rose 0.2 percent to close at 11,691.18. — JE/VS, GMANews.TV